Carvana (NYSE:CVNA) COO Benjamin Huston Sells 50,000 Shares

Carvana Co. (NYSE:CVNA) COO Benjamin Huston sold 50,000 shares of Carvana stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $3,225,000.00. Following the transaction, the chief operating officer owned 535,709 shares in the company, valued at approximately $34,553,230.50. This trade represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Up 2.7%

CVNA opened at $67.91 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The company has a market capitalization of $74.49 billion, a PE ratio of 37.56, a P/E/G ratio of 2.44 and a beta of 3.46. The stock’s fifty day moving average is $66.77 and its 200-day moving average is $70.27. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the business posted $1.51 earnings per share. On average, equities analysts predict that Carvana Co. will post 1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the subject of several research reports. Jefferies Financial Group reduced their price objective on shares of Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Hovde Group boosted their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Carvana in a research note on Thursday, July 30th. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Key Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Director Michael E. Maroone purchased 25,000 shares worth approximately $1.55 million, increasing his direct ownership by 17.41%. The purchase may signal confidence in Carvana’s long-term prospects. SEC insider purchase filing

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ascentis Independent Advisors purchased a new position in Carvana in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Carvana during the fourth quarter valued at about $29,000. Farmers & Merchants Investments Inc. purchased a new stake in Carvana during the fourth quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new position in shares of Carvana in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.